Robinhood, Zero-Fee Crypto Trading Platform Adds Bitcoin Cash [BCH] and Litecoin [LTC]
Popular stock trading platform Robinhood that made Bitcoin (BTC) and Ethereum’s ether (ETH) exchangeable in February has just added Bitcoin Cash and Litecoin to its selection of tradable cryptocurrencies.
The California-based Robinhood took to uploading a blog post in order to break the listing news, telling their users that they can now buy and sell Litecoin and Bitcoin Cash, commission-free” on Robinhood Crypto.
Although Robinhood does not impose commissions or commercial fees, it does seek to obtain profits through cryptocurrencies through the sale of Bitcoin and other coins to investors. But the high volatility of the cryptocurrency has made that a difficult proposition.
Co-founder of Robinhood Vladimir Tenev told Fortune that the company is less concerned with immediate gain and instead focused on long-term growth.
“We don’t intend to make very much money on it at all for the foreseeable future…The thinking behind that is what we’re really doing is building an ecosystem. Right now the products are investing products, so crypto slots in very nicely alongside the 10,000 plus other instruments that people can trade.”
Robinhood Crypto is currently available in seventeen states: AZ, CA, CO, FL, IN, MA, MI, MS, MO, MT, NJ, NM, PA, TX, UT, VA, and WI.
Robinhood also offers market data on a total of sixteen cryptocurrencies including bitcoin core, ethereum, bitcoin cash, litecoin, ripple, ethereum classic, zcash, monero, dash, stellar, qtum, bitcoin gold, omisego, neo, lisk, and dogecoin.
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